Krispy Kreme Will Begin Matching Donut Prices to Average Gas Prices The chain's newest promotion will roll out on April 13.
By Emily Rella
Opinions expressed by Entrepreneur contributors are their own.
Gas prices have been exorbitantly high in recent weeks due to inflation rates and the escalating conflict between Russia and Ukraine.
With grocery prices and many other normal expenses also rising for the same reason, any brand or company offering to lower prices are sure to make a successful splash.
Krispy Kreme is finding a creative way to play on volatile gas prices by announcing that the chain will be selling its famous Original Glazed® dozen donuts each Wednesday for whatever the national average gas price is that week.
The promotion will begin on April 13 and run through May 4, with the price being evaluated based on the average price of gas in the U.S. at the start of the week.
"Inflation and high gasoline prices are serious and forcing families to make tough tradeoffs. We know that despite the high gas prices people have to be out and about anyway," said Dave Skena, Chief Marketing Officer for Krispy Kreme. "So, for the next several Wednesdays, we hope providing a little doughnut deflation will allow them to share some smiles during a difficult time. A dozen Original Glazed Doughnuts for the price of a gallon of gas will help our fans make midweek a little sweeter for their friends and family."
Related: Inflation Jumps to 8.5% in March, Fastest Climb in 40 Years
On Tuesday, the national average price for a gallon of gas was $4.098, which was down from last week's average of $4.176, according to AAA.
The highest ever recorded average price was $4.331, per the same data.
This comes upon the release of a new report Tuesday morning by the Department of Labor which revealed that inflation in March jumped 8.5% year over year, which was the largest jump in 40 years, with gasoline alone jumping over 18% from February 2022 to March.
However, Fed chair Jerome Powell remains cautiously optimistic that the economy will regulate.
"All signs are that this is a strong economy, and one that will be able to flourish in the face of less accommodative monetary policy," Powell said in March's meeting.
Related: 'I Actually Wouldn't Be Able to Afford Driving': Jaw-Dropping Video Shows Gas Bill of Almost $1,000
